Areas Served: Frederick County
The FCSBLF provides another source of financing for existing and aspiring small business concerns in Frederick County, Maryland.
It provides loans for growth-related expansion projects to existing businesses and provides funds for the purchase of real estate, machinery, equipment, inventory, working capital and renovation of real estate to start-up businesses (or those in business for less than two years).
The business must be located in a Frederick County priority funding area.
Priority funding areas cover most municipalities and major transportation corridors in the County.
To access a map of the Frederick County Priority funding areas, click here, then click Priority Funding Areas.
Terms: Payback terms from 2 to 5 years Interest Rate: Fixed, prime + up to 2.25 Loan Size: Minimum of $2,500 up to a maximum of $50,000 Equity Participation: Applicant is expected to contribute at least 15% of the project financing.
In addition, funds must be secured by collateral, such as fixed assets or marketable securities.
Contact InformationFrederick County Office of Economic Development
Address: 12 E. Church St
City: Frederick
State: Maryland
Website:
http://www.discoverfrederickmd.com/incentives-taxes
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